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Encouraging News On Potential Takeover – But There Are Conflicting Reports


There was news late yesterday that Newcastle’s new potential owners – presumably The Bin Zayed Group owned by Sheikh Khaled bin Zayed al-Nahyan – have submitted proof of funds to the Premier League.

And it’s from the well respected Financial Times who have provided an update on the sale of the club, and they say they have been told that proof of funds have been submitted.

However, the FT report does review what has happened over the last two days and they also raise some doubts about the sale.

Mike Ashley – difficult to do business with

They stress that two other groups are still in there trying to buy Newcastle.

The Financial Times’ report says that a source close to the Premier League has told them they have not received any documentation related to the takeover.

That’s something the initial report by the Sun two days ago said had already happened.

But the Premier League has been made aware of the potential Bin Zayed Group takeover in progress.

The Bin Zayed group has told the Financial Times that proof of funds and three years of audited financial statements had already been delivered to the Premier League.

So there are conflicting reports here – and that’s confusing and makes it difficult to know what exactly is happening.

But that’s hardly new for Newcastle, is it?

It seems that it’s difficult for Newcastle to do anything quickly or simply these days.

And we have to remember that owner Mike Ashley is a complicated and stubborn man to do business with.

The sooner we sign Rafa Benitez to a long term deal, and then some group buys Newcastle, the better it will be.

We believe that Sheikh Khaled bin Zayed al-Nahyan is a legitimate buyer and further along than any previous bid.

They seem determined to buy Newcastle, and they have the money to do it!

Comments welcome.


19 comments so far

  • magscar

    May 29, 2019 at 9:02 AM

    Comment #1

    Repost sorry Jail but easier than referring Mickey back I feel

    Mickey

    Don’t usually click links unless music related but did quickly view yours @3 and what’s not to like.

    Interestingly though my YouTube thumbnail links which appeared on same page included a Newcastle Fans TV update page showing a photo of a seemingly different younger guy?

    This highlights the problem we face with the confusion over who buyer actually is – I bow of course to your greater understanding of this and trust he is the potential buyer.

    1
  • RobLeenio

    May 29, 2019 at 9:03 AM

    Comment #2

    I doubt that the SD sale of the warehouse in Shirebrook and Ashley’s sale of NUFC are too closely related – the warehouse is owned by SD and the proceeds will go to them, NUFC is owned by Ashley and the proceeds will go to him.

    As far as I’m aware, SD may have lost value in its shares, but it has good cashflow, so doesn’t need an injection of cash from its biggest shareholder.

    Whether or not Ashley uses the proceeds from NUFC to buy up more shares in SD is another matter entirely – of course the cash would not go to SD but to the existing shareholders, though it will likely have a positive effect on the share value of the company.

    0
  • lesh

    May 29, 2019 at 9:04 AM

    Comment #3

    The ‘facts’ as we have been given them show that Ashley owns NUFC and there’s no immediate sign of it being bought out.

    We also know that Rafa’s contract runs out on June 30 and there’s no signs that he’ll be with us thereafter. The supposed bidder has reportedky said they’re relaxed about whether Rafa’s in place or not if/ when they take over.

    Under those circumstances, there’s nothing to stop, in fact it makes more sense for Ashley to get Rafa signed up ASAP.

    As usual, he’s got the club into yet another mess and is hiding behind the supposed sale to delay signings.

    Why doesn’t he see sense and sign Rafa up, now!

    3
  • RobLeenio

    May 29, 2019 at 9:04 AM

    Comment #4

    Oh, and welcome back Jail – a shorter than intended hiatus, evidently.

    Couldn’t keep away, eh?

    😉

    3
  • one fine day

    May 29, 2019 at 9:08 AM

    Comment #5

    GS
    May 29, 2019 at 8:36 AM
    Comment #8
    I am trying to figure out how long this vetting process for a new owner might take. The only real benchmark we have is Man City and I think they bought for someone as opaque as Ashley. Some Malaysian businessman with a name with about 25 letters in it, if I recall correctly. I will look it up as I doubt there will be anything happening with Rafa and transfers until the ownership is sorted out.
    GS ,
    Think you will find he was thaksin Shinawatra
    A former prime minister of Thailand .
    Quite a comparison he draws with Ashley as ,due to a few ( many ) issues back in his native country ,he was found to be NOT a fit and proper person to own the club and then was forced to sell quickly to …the Abu Dhabi United group in 2008
    He paid around 80 mil and sold to them for 2000m two years later .
    Thailand is still recovering from his and his families rule

    1
  • Munster Mag

    May 29, 2019 at 9:09 AM

    Comment #6

    So proof of funds has to be shown to the Premier League, not to Mike Ashley? Is that correct? I said yesterday that Khaled may be trying to steal a march on other bidders by going public so maybe Ashley is trying to slow it down to get a max price. It would be nice to hear a comment re the funds from the Prem league as Ashley and nufc may not be the issue. It’s a bit worrying that Khaled tried to suggest the race was run when it wasn’t? Also do we know if there is any truth that he cudnt provide the deposit of whatever Liverpool required? Maybe just scouse vindictiveness?

    0
  • griff

    May 29, 2019 at 9:12 AM

    Comment #7

    While I am glad that so many bloggers are optimistic, I have a bad feeling about this. We were safe for a while. The timing is so convenient in relation to Rafa’s contract and Jail has the right of it in that you can always insert buyout clauses in a contract.

    We all know that Ashley acts in self-interest. The question is, what is his best play here?

    0
  • GS

    May 29, 2019 at 9:13 AM

    Comment #8

    This is what the BBC said when Sheikh Mansour took over Man City. I expect we will be seeing similarly boring press releases if this thing has legs:

    http://news.bbc.co.uk/sport2/hi/football/teams/m/man_city/7628080.stm

    1
  • Charlie in the Gallowgate

    May 29, 2019 at 9:14 AM

    Comment #9

    Does anyone like me think parts of the press and the football establishment don’t want this deal to happen.
    Worried in case the cosy clique of London and Lancashire clubs are challenged.
    Bring it on about time!!

    9
  • magscar

    May 29, 2019 at 9:14 AM

    Comment #10

    Rob

    I don’t get too much into SD stuff as Its about NUFC for me but hasn’t there been speculation on 2 fronts which might have a bearing

    Firstly share price dropping enables Ashley with new funds to buy out other shareholders and take back firm into private ownership a supposed wish of his?

    Secondly he is looking to move into property and we all see the devastation on our high streets so there is scope to change his strategy.

    On the latter I noticed but didn’t ‘really read much of article in Chronicle online about a new “boutique hotel” in Toon emerging from former retail(?) premises. Scope for change of use of flagging retail premises round the country?

    Our loss could be the high street’s gain 😉

    1
  • JP...from The Rock

    May 29, 2019 at 9:17 AM

    Comment #11

    It just occurred to me but the Man City owner denying any relation to our Sheik Khaled could be his way of doing him a favour. If he had said that they are indeed related someway then it would jeopardise his chance of purchasing NUFC as the FA would not allow it. As they have come put and denied any relation then we have a chance and he’s helping his cousin out.

    3
  • GS

    May 29, 2019 at 9:18 AM

    Comment #12

    The good news about the Man City takeover is that they did what they said they would. They gave Hughes his chance and then realised he was in over his head and changed gears. We can only hope for am owner as astute as Man City’s.

    1
  • magscar

    May 29, 2019 at 9:20 AM

    Comment #13

    Charlie

    That thought has occurred but in living outside of area and mentioning such an idea to mates down here they believe I am just paranoid

    Mind some did thing Ashley was doing is favours – have disabused them of that notion.

    I think the national press are just fine with London and NW domination just as TV execs are and have no wish to venture North so expect us to stay in our quaint regional box

    1
  • magscar

    May 29, 2019 at 9:22 AM

    Comment #14

    Have had a delayed exit out this morning hence my unexpected appearances but normal service will be resumed soon – fear not 🙂

    0
  • one fine day

    May 29, 2019 at 9:25 AM

    Comment #15

    GS
    See post 5 ?

    0
  • Lovem or Hatem

    May 29, 2019 at 9:26 AM

    Comment #16

    My take on the takeover is as follows:

    The BinZayed group has made an offer to buy NUFC for the price Mike Ashley is looking for, £350mil. So this is where they have agreed terms.

    Ashley is now waiting for proof of funds.

    BinZayed group must be in the process of submitting paperwork to the EPL and FA

    Once Ashely has proof of funds – I would hope a further statement from either NUFC or BinZayed group to confirm the transfer ownership pending ratification from the EPL and FA.

    If I remember correctly when MCFC was bought there was a confirmation of the change in ownership before the paperwork was submitted to the EPL / FA

    1
  • GS

    May 29, 2019 at 9:30 AM

    Comment #17

    I don’t really understand why everyone thinks Newcastle is so isolated. I got there in an hour from Heathrow. Have they finished fixing the A1 North yet? I was back in Newcastle 3 years ago and they were finally widening it.

    0
  • GS

    May 29, 2019 at 9:31 AM

    Comment #18

    One Fine Day. Read it mate. thanks.

    0
  • GS

    May 29, 2019 at 9:35 AM

    Comment #19

    Ashley also said that he would only sell to a “worthy” owner. Someone who would take us forward. Sounds like BS but you never know with Ashley. He does some very strange stuff. These department store investments are all property plays and I am sure he will make them mixed use with apartments, stores, bars and offices. That is the only way they will survive.

    Hopefully he could do with 350 million from NUFC to help finance his new ventures.

    0

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